Schaeffer's Trading Floor Blog

Worth a Read

by 4/19/2005 2:08 PM
Stocks quoted in this article:

As regular readers are well aware...I am not a fan of Wal-Mart (WMT)...If you have missed my ramblings on the stock you can click here to see why...

I wanted to bring this up because I just came across an article on CNN/Money's website - A Wal-Mart discount for investors? - that offers the bullish case for the stock.

With the stock at a new annual low and showing heavy optimism (that seems to grow as the stock loses ground), I would consider it a contrarian warning sign - but read the article and decide for yourself...


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Tonight's Earnings

by 4/19/2005 1:03 PM
Stocks quoted in this article:

For those looking for some excitement...the list below shows some of the companies that are scheduled to report earnings tonight...

  • Avaya (AV)
  • CheckFree (CKFR)
  • Cheesecake Factory (CAKE)
  • Gilead Sciences (GILD)
  • Intel (INTC)
  • Juniper Networks (JNPR)
  • Kraft Foods (KFT)
  • Linear Tech (LLTC)
  • PPD Inc. (PPDI)
  • Seagate Tech (STX)
  • Stryker (SYK)
  • Teradyne (TER)
  • USANA, Inc (USNA)
  • Yahoo! (YHOO)

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Index Check

by 4/19/2005 12:42 PM
Stocks quoted in this article:

As was the case yesterday...the NYSE net ticks spike I noted below failed to gain traction and the major indices are trading below their session highs. Overall, we see...

...a picture that is similar to what we saw at the open with most groups trading in positive territory...the biggest difference is that housing shrugged off the lower open to trader higher....networking is still in the lead but oil and gold stocks are following closely behind...it is also worth noting that internet stocks are not able to catch a bid in today's rally...


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Two for the Price of None

by 4/19/2005 11:28 AM
Stocks quoted in this article:

Two random facts to note...

  1. My alert for NYSE net ticks hit as SPX has moved back towards its highs of the day.
  2. Even after IBM's gap lower, a check of Zacks shows that 11 of the 18 analysts (61 percent) still rank IBM with a "buy" rating.


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Checking Back on FLEX

by 4/19/2005 11:23 AM
Stocks quoted in this article:

As I went through some charts last night, I made myself a reminder note to check back on Flextronics International (FLEX) which I expressed some concerns on last month. Below is an updated version of the chart from that post...


Created with SuperCharts by Omega Research

As you can see, the stock has now pulled back to its former lows from August. A break of this support opens up the possibility of the lows from late-2002 being retested.

I had intended to update this chart this morning but didn't get around to it until now. Which is good...because I just saw a research note from our in-house quant expert Bob Becks, that shows the stock just triggered one of our proprietary signals that has historically shown poor performance. He also noted that the equity scorecard is still not encouraging.

I would keep an eye on this support zone...

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